Fayol's 14 principles of management

Background and History of Fayol
  Henry fayol was born in France in 1841. He got degree in Mining Engineering in 1860 and started working as engineer in a Coal Mining Company.In 1888 he was promoted as the managing director of the company. At that time the company was in the situation of situation of insolvency. He accepted the challenge and applied his managerial techniques to bring out the company from this situation and he succeeded. When he retired after 30 years the company was a leading coal-steel company with strong financial background.
Major Contributions of fayol
Henry Fayol became famous as "Father of Management Studies and Thoughts",because of the following contribution:
(a) He made clear distinction between technical and managerial skill.
(b) He identified the main steps in the process of management- planning, organising, staffing, directing, controlling.
(c) He developed fourteen principles of management which act as guidelines for mangers to perform managerial activities.
Fayol's Fourteen Universal Principles of Management 
(i) Principles of Division of Work: Specialisation of labour is necessary for organisational success.
(ii)Authority:The right to give orders must accompany reponsiblity.
(iii)Discipline:Obedience and respect help an organisation run smoothly.
(iv)Unity of Command:Each employee should receive orders from only one superior.
(v)Unity of Direction:The efforts of Everyone in the organisation should be co-ordinated and focused in the same direction.
(vi)Subordination of Individual Interests to the general interest:Resolving the rug of war between personal and organisational interest in favour of the organisation is one of management's greatest difficulties.
(vii)Remuneration:Employees should be paid fairly in accordance with thier contribution.
(viii)Centralisation:The relationship between centralisation and decentralisation is a matter of proportion; the optimum balance must be found for each organisation.
(ix)Scalar chain:Subordinates should be paid fairly chain of command unless expressly authorised by their respective superiors to communicate with each organisation.
(x)Order:Both material things and people should be in teir proper places.
(xi)Equity:fairness that results from a combination of command of kindliness and justice will lead to devoted and loyal service.
(xii)Stability and tenure of personnel:People need time to learn their jobs.
(xiii)Initiative:One of the greatest satisfactions is formulating and carrying out a plan.
(xiv)Espirit de crops:Harmonious efforts among individuals is the key to organisational success.
Henry Fayol stated a set of 14 principles of management based on his practical experience as a manager. According to Fayol, these principles can be applied in all types, functions, levels and sizes of organisation. For a long time, Fayol's list was accepted as Complete and Comprehensive.